U.S. stock futures rose, following yesterday’s advance in the Standard & Poor’s 500 Index, amid better-than-forecast earnings and as investors awaited data on home sales and durable-goods orders. Priceline (PCLN).com Inc. advanced 4.2 percent and Edison International gained 3.6 percent after reporting earnings that beat analyst projections. First Solar (FSLR) Inc. slumped 13 percent after forecasting revenue will fall short of analysts’ estimates. S&P 500 (SPX) futures expiring next month increased 0.2 percent to 1,495.7 at 8:04 a.m. in New York. Dow Jones Industrial Average futures added 29 points, or 0.2 percent, to 13,888 today. “U.S. stocks are fairly valued, perhaps even a little cheap,� Ralph Schlosstein, chief executive officer of New York- based Evercore Partners Inc., told Mark Barton on Bloomberg Television. “It’s been a good start to the year and I’m pretty supportive of the equity market. The disappointing part has been the inability of the Republicans and Democrats to get together on a balanced plan to address our longer-term fiscal issues.� The S&P 500 is down 0.1 percent for February, heading for its first monthly decline since October. The index has advanced 5 percent this year as companies reported better-than-estimated earnings and lawmakers agreed on a compromise budget, while putting off automatic spending cuts to March 1. Even after more than doubling since March 2009, the benchmark index is trading at 14.8 times reported earnings, less than the 16.6 average ratio of the past decade, data compiled by Bloomberg show. Economic Data Orders for U.S. durable goods probably fell in January for the first time in five months. The 4.7 percent drop in bookings for goods meant to last at least three years would follow a 4.3 percent gain in December, according to the median forecast of 77 economists surveyed by Bloomberg. The Commerce Department will release the data at 8:30 a.m. in Washington. A separate report may show pending sales of existing homes rose 1.8 percent in January after a 4.3 decline the previous month, economists predicted before a report from the National Association of Realtors due at 10 a.m. in Washington. Federal Reserve Chairman Ben S. Bernanke will appear before the House Financial Services Committee in Washington for the second day of his semi-annual testimony to Congress on monetary policy. Friday’s deadline to avoid federal spending cuts means another showdown between President Barack Obama and congressional Republicans. If Congress doesn’t act, spending will be reduced by $85 billion in the final seven months of this fiscal year and by $1.2 trillion over the next nine years. Priceline Gains Priceline rose 4.2 percent to $707. Fourth-quarter profit, excluding items, increased 26 percent to $349 million, or $6.77 a share, the biggest online travel agency said late yesterday. That compared with the average analyst estimate of $6.53 a share. Revenue jumped 20 percent to $1.19 billion. Edison International (EIX) added 4.1 percent to $48. The owner of California’s second-largest electric utility reported fourth- quarter adjusted earnings of $1.79 a share, topping the $1.05 average estimate of analysts surveyed by Bloomberg. Edison also forecast 2013 adjusted earnings of $3.45 a share to $3.65, above the $3.24 average of 17 analysts’ estimates compiled by Bloomberg. Guidewire Software Guidewire Software Inc. (GWRE), a developer of software for insurance companies, surged 14 percent to $36.03 after boosting its full-year revenue target to a range of $286 million to $292 million. Analysts had estimated $284.8 million for the period. Caesars Entertainment Corp., the largest owner of U.S. casinos, rose 7.1 percent to $12.99. New Jersey Governor Chris Christie signed legislation late yesterday that opens the door to online gambling in the state. First Solar, the world’s biggest maker of thin-film solar panels, dropped 13 percent to $27.15. First-quarter sales will be in the range of $650 million to $750 million, less than the $803.6 million average analyst projection, the company said late yesterday. Per-share profit will be 70 cents to 90 cents, which compares with an average estimate of 78 cents. Accretive Health Inc. (AH) plunged 13 percent to $10.50. The Chicago-based hospital billings and collections manager withdrew its financial guidance and postponed its quarterly earnings report, previously scheduled for release today. To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net To contact the editors responsible for this story: Andrew Rummer at arummer@bloomberg.net; Lynn Thomasson at lthomasson@bloomberg.net

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